“Better late than never” might have been the mantra of natural gas futures bears on Wednesday as the February contract finally corrected Monday’s 24.5-cent rally. Riding updated forecasts that show temperatures might not be as cold as previously expected in the coming weeks, the prompt-month contract recorded a $4.447 low on Wednesday before closing the regular session at $4.473, down 19.6 cents from Tuesday’s finish.
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Articles from Mantra
Traders Lament Lackluster Market; July Sheds 6.1 Cents
July natural gas futures ground lower in listless trading Friday as traders cited the bearish mantra of expected strong injections into gas storage and a lack of weather in populous energy markets. Short-term traders expect prices to fall early next week.
Producer Group Says ‘Gang of 10’ Offshore Plan Falls Short
House and Senate Democratic leaders are said to be considering a bipartisan Senate proposal that would allow drilling in waters off four Atlantic Coast states and increase activity in the eastern Gulf of Mexico. However, the president of the American Petroleum Institute (API) contends that it “falls short of what is needed” to expand domestic oil and natural gas production.
Sempra ‘On Track’; Liquefaction Halt Delays TX LNG, CEO Says
“On track” was the mantra for Sempra Energy, which reported increased utility and other first quarter earnings results, although accounting requirements caused some of its natural gas trading results to appear to have slipped on a quarter-over-quarter comparative basis. First quarter results showed net income of $228 million, or 86 cents/diluted share, compared with $255 million, or 98 cents/share, for the same period last year.
Sempra ‘On Track’ in Utility and Merchant Operations, CEO Says
“On track” was the mantra for Sempra Energy, which reported increased utility and other first quarter earnings results, although accounting requirements caused some of its natural gas trading results to appear to have slipped on a quarter-over-quarter comparative basis. First quarter results showed net income of $228 million, or 86 cents/diluted share, compared with $255 million, or 98 cents/share, for the same period last year.
SDG&E Installs First Phase Smart Electric, Gas Meters
In a summer in which demand response has become a new mantra for the power industry, Sempra Energy’s San Diego Gas and Electric Co. announced Monday it has begun installing what it is calling its “first wave” of advanced electric meters in a field test that will go on for a number of months. The high-tech meters enable two-way communications between the utility and customers in their homes or businesses.
Mild Forecasts Knock Futures Back; Funds May Be Next Buyers
Following the old “buy the rumor, sell the event” trading mantra, natural gas futures tumbled lower Monday as sellers punished the market just as the coldest weather of the season was arriving in the eastern United States.
Mirant, RRI No Longer Covet Top Spot as Gas Trader
No longer believers in the Enron Corp. energy trading mantra that “bigger is better,” Mirant Corp. and Reliant Resources Inc. executives said Thursday that the focus now is on cash — finding it, paying off debts with it and keeping as much of it as they can. They both conceded that for them, anyway, physical gas trading has not become a cash cow.
Mirant, RRI No Longer Covet Top Spot as Gas Trader
No longer believers in the Enron Corp. energy trading mantra that “bigger is better,” Mirant Corp. and Reliant Resources Inc. executives said Thursday that the focus now is on cash — finding it, paying off debts with it and keeping as much of it as they can. They both conceded that for them, anyway, physical gas trading has not become a cash cow.
E&P Programs Seeing the Money
The 2001 mantra of most North American exploration and production companies could be the oft-quoted line from the 1996 movie Jerry Maguire: “Show Me The Money!” Driven by the continued strong interest in North America and sustained high energy prices, both majors and independents have upped their capital spending budgets for the coming year. Most target domestic natural gas projects.